PENSION-RETIREMENT. 25.1 The defined benefit pension shall remain as is through December 31, 2009. Effective December 31, 2009 the pension benefit shall be frozen both salary and service. For future benefit accruals accumulated after January 1, 2010, the pension plan will be amended as follows.
PENSION-RETIREMENT. A. All members of the bargaining unit are required to participate in the Ohio Public Employees Retire- ment System (OPERS) or the Alternative Retirement Plan (ARP), if eligible, subject to the rules and regulations of those systems. Retirement rights and benefits are solely determined by State statute and by the OPERS rules and regulations and/or by the rules and regulations of any other state retirement system in which the employee may have participated.
B. All employee OPERS/ ARP deductions are on a pre-tax basis.
PENSION-RETIREMENT. 22.1 All employees covered by this Agreement shall participate in the Public Employees Retirement System of the State of Nevada in accordance with the rules of that system.
22.2 The City agrees to pay one hundred (100%) of contributions to Public Employees Retirement System ("PERS") as it changes from time-to-time.
22.3 The City shall comply with all provisions of NRS 286.421 for the purpose of payment of the employee's retirement contribution, but will not pay for the purchase of eligible service.
PENSION-RETIREMENT. (Except Colonial Markets) Employer shall contribute no less than the sum of twelve and one-half (12%tf) cents per hour up to a maximum of forty (40) straight time hours per week for each hour worked by each full time employee to the Baltimore FELRA and Retail Clerks Pen sion Fund. The hourly contribution by the Employer for new employees will commence with the first full payroll week follow ing the completion of xxxxx (30) days of continuous full time employment with the Employer, retroactive to the date of em ployment. Effective July 1, 1970 the contribution will be increased to 15( an hour.
PENSION-RETIREMENT. 25.1 Effective December 31, 2021, employees who presently participate in the Medical Center’s Defined Benefit Plan (the "Plan") and who are covered by this Agreement shall: (i) transition to full participation in the Medical Center’s 401(k) plan, including employer contribution and matching components without losing currently vested benefits; (ii) cease earning benefits in the Plan and (iii) the accrual of additional years of benefit service, and benefits under the Plan will be frozen, as of December 31, 2021. Such employees will continue to be credited with service for vesting purposes under the Plan, if not already vested. Any salary increases after December 31, 2021 shall not be included in the benefit calculations under the Plan. All participants in the Defined Benefit Plan ages 50 or older and with 10 or more years of service as of December 31, 2021 will receive an additional 3% of pay “Transition Credit” into the Medical Center’s Defined Contribution Plan in the 2022 and 2023 Plan years. .
PENSION-RETIREMENT. 1. The provisions of The Buffalo News Editorial Pension Plan (the “Pension Plan”) will apply to all full-time and part-time employees of The Buffalo News covered by this contract who are eligible in accordance with the terms of such Plan. All disputes regarding the Pension Plan will be subject to the grievance and arbitration provisions of this contract.
A. Effective August 1, 2002, the Pension Plan shall be amended to change the maximum annual benefit payable at Normal Retirement Date under the Plan to $40,000 without regard to the amount of participant’s primary Social Security benefit, and provide for a five (5) year averaging for all plan participants regardless of their age at the time of the termination or retirement, and to modify the current provisions of the Editorial Pension Plan as they pertain to “qualified earnings” to provide that incentive earned by the classified advertising employees be included in qualified earnings starting August 1, 1998, and to modify the current provisions of the Editorial Pension Plan as they pertain to “benefit multiplier rate from the current 1.50 to 1.55 multiplier rate.”
B. Effective August 1, 2007, the provisions of The Buffalo News Editorial Pension Plan shall be amended to provide that all full- time, permanent district managers on the payroll as of the date of this agreement shall be eligible for an unreduced pension at age 62 with 30 years of service in accordance with the provisions of the plan. (This means the pension benefit of those district managers who retire between age 62 and 64 with 30 years of service will not be diminished by the early retirement factors of the plan.) This early unreduced pension benefit shall be provided only to the permanent full-time district managers identified by name in the schedule attached to this agreement in Memorandum of Agreement Number 27. An Administrative Board, comprised of two members to serve at the pleasure of The News and two members to serve at the pleasure of the Guild, will be created and maintained. The purpose of the Administrative Board is to serve as a medium for discussion of matters pertaining to the Pension Plan of concern to either party, such as issues relating to plan design or benefit structure, investment performance, and administration, and as a communication forum for participants. It is understood, however, that the Administrative Board shall have no authority or responsibility with respect to the management, operation, or administration of th...
PENSION-RETIREMENT. A. Effective January 22, 1967, and for the life of this EXHIBIT “ A ” / • a N / A 4 /20 /6 8 7 /19 /69 Produce Mgrs: 134.00 143.00 Head Cashiers and Coffee Dairy Heads: 1st 6 mos. $ 92.00 $101.00 2nd 6 mos. 95.00 104.00 3rd 6 mos. _ _ - 102.00 111.00 4th 6 mos. 112.00 121.00 Thereafter ................ 121.00 130.00
PENSION-RETIREMENT. A. Effective January 26, 1964, and for the life of this Agreement, Employer shall contribute the sum of five (5<f) cents per hour up to a maximum of forty (40) straight times hours per week for each hour worked by each full time employ ee to the
PENSION-RETIREMENT. SECTION 1. The Township and all employees shall continue to participate in the New Jersey Pension Plan (“P.E.R.S.”) as provided by New Jersey State statutes. Enrolled employees will pay the employee portion of P.E.R.S. through the regular payroll deductions.
SECTION 2. Any employees hired prior to January 1, 2007, who retire at or after the age of 65 and have 25 years of service to the Township as a full-time employee will receive an annual payment of $2,500 to offset the individual’s cost of purchasing an additional insurance policy to supplement Medicare coverage, or to be used for any other purpose the individual desires, for the remainder of the Employee’s natural life. Any employee hired on or after January 1, 2007 shall not be entitled to any paid health benefits upon retirement, regardless of the person’s age and/or years of service.
PENSION-RETIREMENT. A. Effective January 22, 1967, and for the life of this Agreement, Employer shall contribute no less than the sum of five (54) per hour up to a maximum of forty (40) straight Thereafter 3.025 121.00 3.25 130.00 The Company agrees to establish the above three clasifications in those markets where in sole opinion o f Company the needs of the market require such employees. A department head is any employee held responsible by the Company for the proper operation of a specified department. Full Time Clerk* 83.50 2.275 91.00 86.50 2.35 94.00 93.50 2.525 101.00 103.50 2.775 111.00 112.50 3.00 120.00 2.15 2.25 2.45 2.725 2.975 First 6 m onths 2.0875 Second 6 m onths 2.1625 time hours per week for each hour worked by each full time Third 6 m onths 2.3375 employee to the Baltimore FELRA and Retail Clerks Pension Fund. The hourly contribution by the Employer for new em ployees will commence with the first full payroll week following the completion of thirty (30) days of continuous full time em ployment with the Employer, retroactive to the date o f em Fourth 6 m onths 2.5875 Thereafter 2.8125 Part Time Clerk* First 6 m onths 1.9625 ployment.
B. The Pension Fund and Plan shall be governed by a board Second 6 m onths 2.0625 Third 6 m onths 2.2625 of trustees consisting of equal numbers to be designated by the Baltimore Food Employers Labor Relations Association and the Union.
C. It is understood and agreed that the Pension Fund re ferred to herein shall be such as will continuously qualify for approval by the Internal Revenue Service, so as to allow the Employer an income tax deduction for the contributions paid hereunder.
D. It is agreed that the Pension Plan shall provide that it be mandatory that each employee covered by this Agreement shall not retire later than the first (1st) day o f the month following his or her sixty-fifth (65th) birthday.
E. It is agreed that all questions involving pensions not specifically set forth herein shall be determined by the provis ions o f the Agreement and Declaration of Trust governing the plan.
F. An Employer, at its discretion, may or may not be re quired to designate a representative on the Board of Trustees, but in any event the Employer agrees to be bound by all the decisions made by the trustees in accordance with the Decla ration of Trust.
